Dianrong.com Becomes the First Chinese P2P Company to Announce Participation in Hyperledger Blockchain Project

SHANGHAI, Dec. 2, 2016 /PRNewswire/ -- Today, the Chinese P2P platform Dianrong.com officially announced it is joining one of the world's biggest blockchain alliances, the Hyperledger Project. Dianrong.com is the first Chinese P2P company to successfully join the project.

A Dianrong.com spokesperson indicated that this latest development marks a significant step forward for the company in the blockchain industry, representing its rise to the highest ranks of the blockchain world. Following the implementation of the new P2P regulations and the beginning of a wave of industry reshuffling, Dianrong.com will continue its exploration of the financial technology field, thus further maintaining its edge in the industry.

Hyperledger's sole P2P company from China

Established by the Linux Foundation at the end of 2015, Hyperledger is a project that aims to unite leading companies globally, formulating and establishing open, cross-industry, cross-border blockchain technology standards and cost-effective and beneficial blockchain business applications through combined efforts and cooperation.

Hyperledger's founding membership can be described as an all-star cast, featuring global IT leaders such as IBM, Intel and JP Morgan, while also counting global financial organizations such as the Chicago Board of Trade and the German Stock Exchange among its ranks.

At present, Hyperledger's Chinese membership mainly contains communication companies such as Huawei, as well as Wanda Network Technology Group, Hang Seng Electronics, and other leading domestic companies in the online finances world.

Hyperledger announced yesterday that it is welcoming a total of six new members this time, including Dianrong.com. Dianrong.com is the only P2P company in this group.

In fact, Dianrong.com is also the only P2P company among Hyperledger's current 22 members in China, according to publicly available information.

"Construction of the blockchain infrastructure is now basically complete"

It is no secret in the industry that Dianrong.com, which has secured a place in P2P's top ranks, wanted to get involved in blockchain.

In July of this year at the Lendit Summit in Shanghai, Soul Htite, Founder & CEO of Dianrong.com, announced publicly for the first time that his company would put in USD$30-40 million towards research into blockchain technology and Internet lending technology. He hoped to gather support to solve the problem of trust in Internet lending and help more people lend successfully.

More details surfaced regarding Dianrong.com's work with blockchain at last night's Hyperledger announcement.

Dianrong.com's spokesperson commented that blockchain technology allows anonymous transactions to take place between two mutually unfamiliar entities, and can thus be used in Internet lending models. Dianrong.com is also researching how blockchain technology can be used in the fields of consumer finance, credit lending, and contract verification.

On this topic, the spokesperson also revealed in an interview today that Dianrong.com has basically finished building a self-controllable blockchain infrastructure. This infrastructure allows other similar companies in the industry, manufacturers and banks, etc. to join, where they can share and utilize related information, as well share information related to financial trading and asset management.

"We are currently in the process of engaging further with various parties and cooperating partners," said the spokesperson.